International Speedway Corporation (“ISC”) today initiated financial guidance for the fiscal year ending November 30, 2008.
“ISC is poised for a successful year in 2008,” said ISC President Lesa France Kennedy. “While we continue to keep a close eye on national economic trends and their impact on consumer spending, we expect to post increases in all of our major revenue categories in fiscal 2008. This growth will drive higher free cash flows to support a prudent capital allocation strategy, including a more aggressive share repurchase program.” CNN.com
“ISC is poised for a successful year in 2008,” said ISC President Lesa France Kennedy. “While we continue to keep a close eye on national economic trends and their impact on consumer spending, we expect to post increases in all of our major revenue categories in fiscal 2008. This growth will drive higher free cash flows to support a prudent capital allocation strategy, including a more aggressive share repurchase program.”
For the twelve months ending November 30, 2008, the Company anticipates total revenues to range between $805 million and $825 million. In addition, earnings are expected to range between $3.05 and $3.15 per diluted share. The Company is currently more comfortable at the low to mid-point of the earnings range. MSN.com
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